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5. If the claimant is married and filing separately and his or her adjusted gross
24income is less than $62,500 in the year to which the claim relates, the greater of $25
25or an amount equal to 10 percent of his or her net tax liability.
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16. If the claimant is married and filing separately and his or her adjusted gross
2income is at least $62,500 but less than $75,000 in the year to which the claim relates,
3an amount that is calculated as follows:
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a. Calculate the value of a fraction, the denominator of which is $12,500 and
5the numerator of which is the difference between the claimant's adjusted gross
6income and $75,000.
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b. Subtract from 1.0 the amount that is calculated under subd. 6. a.
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c. Multiply the amount that is calculated under subd. 6. b. by 10 percent.
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d. Multiply the amount of the claimant's net income tax liability by the amount
10that is calculated under subd. 6. c.
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(c)
Limitations. 1. No credit may be allowed under this subsection unless it
12is claimed within the period under s. 71.75 (2).
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2. Part-year residents and nonresidents of this state are not eligible for the
14credit under this subsection.
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3. Except as provided in subd. 4., only one credit per household is allowed each
16year.
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4. If a married couple files separately, each spouse may claim the credit
18calculated under par. (b) 5. or 6., except a married person living apart from the other
19spouse and treated as single under section
7703 (b) of the Internal Revenue Code may
20claim the credit under par. (b) 1. or 2.
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5. The credit under this subsection may not be claimed by a person who may
22be claimed as a dependent on the individual income tax return of another taxpayer.
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(d)
Administration. The department of revenue may enforce the credit under
24this subsection and may take any action, conduct any proceeding, and proceed as it
25is authorized in respect to taxes under this chapter. The income tax provisions in this
1chapter relating to assessments, refunds, appeals, collection, interest, and penalties
2apply to the credit under this subsection.
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3Section
885. 71.07 (5n) (d) 2. of the statutes is amended to read:
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71.07
(5n) (d) 2.
For Except as provided in subd. 2m., for purposes of
5determining a claimant's eligible qualified production activities income under this
6subsection, the claimant shall multiply the claimant's qualified production activities
7income from property manufactured by the claimant by the manufacturing property
8factor and qualified production activities income from property produced, grown, or
9extracted by the claimant by the agriculture property factor.
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10Section
886. 71.07 (5n) (d) 2m. of the statutes is created to read:
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71.07
(5n) (d) 2m. For taxable years beginning after December 31, 2018, for
12purposes of determining a claimant's eligible qualified production activities income
13from manufacturing under this subsection, the claimant, including a beneficiary or
14fiduciary, shall multiply the claimant's qualified production activities income, not
15exceeding $300,000, from property manufactured by the claimant by the
16manufacturing property factor.
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17Section 887
. 71.07 (8m) of the statutes is created to read:
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71.07
(8m) Additional household and dependent care expenses tax credit. 19(a)
Definitions. In this subsection:
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1. “Claimant" means an individual who is eligible for and claims the household
21and dependent care expenses tax credit for the taxable year to which the claim under
22this subsection relates.
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2. “Household and dependent care expenses tax credit" means the tax credit
24under section
21 of the Internal Revenue Code.
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1(b)
Filing claims. Subject to the limitations provided in this subsection, a
2claimant may claim as a credit against the tax imposed under s. 71.02, up to the
3amount of those taxes, an amount equal to 50 percent of the amount of the household
4and dependent care expenses tax credit that the claimant claimed on his or her
5federal income tax return for the taxable year to which the claim under this
6subsection relates.
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(c)
Limitations. 1. No credit may be allowed under this subsection unless it
8is claimed within the time period under s. 71.75 (2).
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2. No credit may be allowed under this subsection for a taxable year covering
10a period of less than 12 months, except for a taxable year closed by reason of the death
11of the taxpayer.
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3. The credit under this subsection may not be claimed by either a part-year
13resident or a nonresident of this state.
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4. The credit under this subsection may be claimed for taxable years beginning
15after December 31, 2019.
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5. A claimant who claims the credit under this subsection is subject to the
17special rules in
26 USC 21 (e) (2) and (4).
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(d)
Administration. Subsection (9e) (d), to the extent that it applies to the credit
19under that subsection, applies to the credit under this subsection.
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20Section 888
. 71.07 (9e) (aj) (intro.) of the statutes is amended to read:
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71.07
(9e) (aj) (intro.) For taxable years beginning after December 31, 2010,
22and before January 1, 2019, an individual may credit against the tax imposed under
23s. 71.02 an amount equal to one of the following percentages of the federal basic
24earned income credit for which the person is eligible for the taxable year under
25section
32 (b) (1) (A) to (C) of the Internal Revenue Code: